Samantha Rowan
The four-tranche, five-year financing is split into two components, and each was designed to address a specific part of the development.
Michael Cale, co-head of debt investment at Allianz Real Estate of America, said the firm is also selectively originating retail loans.
For investors that are picking the right spots, there is financing. But it is more difficult than it was in the past.
The conduit market has also seen strong growth so far this year, but this may not continue.
Lenders are starting to better understand the dynamics of energy retrogrades and giving credit for this in pricing.
PCCP sees opportunity in the industrial and multifamily sectors, but is looking analytically throughout the broader commercial real estate market.
The specter of rising inflation and higher interest rates, the knock-on effect on transaction volume and the impact on rising material costs were major topics of concern.
The 10-year US Treasury yield fell to 1.7% by the end of the day on Tuesday as investors fled to risk-off trades.
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The Fed hopes to combat inflation this year with three substantial rate increases, but the hikes were expected and lenders will be more impacted by spread movement, market participants said.